INDECISION PREVAILS.......

Market trading in downward sloping channel with lower tops and lower bottom formation. Strength will only be seen if market trades over NF 3615. U.S. & Asian markets are not giving any positive clue. Stability can come around NF 3504 . Sharp bounce back expected around NF 3477-57. Take care as Bulls are getting active at lower levels.

BULLS ON BACK SEAT.....

Important level of NS 3800 broken technically in close with Bears taking the full grip of the market. NF gapped down 3838 to 3758 (watch this level for future resistance)
Bounce back likely from oversold levels as well as with news of Policy changes and CRR rate cut. Over NF 3668- next level NF 3721 and 3752.
Take care as this will be just a pull back rally as the down trend continues.
Stop loss for longs is NF 3584 (in coming days) as below it can slide to NF 3473- 3353-3267.

SLIDE CONTINUES....

Nifty Future below 3868 can slide to 3764-3705-3645. Avoid bottom fishing as this trend can continue till tomorrow morning before a bounce back happens

NIFTY TARGETS

Nifty in a strong DOWN TREND with first Target of 3618

BULLS Vs BEARS :

The Market in the process of forming a BOTTOM has given this week cold sweat to all those who got stuck in ‘shorts’ as well as ‘longs’. Bears trying to pierce 3800 Nifty level and Bulls protecting 3800 level which is their final hope. We are in the final wave of this bottom formation. Break of 3800 level can take us to 3648-3577 level. Stop loss for shorts is NF 4040.